Putnam Investments LLC Acquires 40,687 Shares of KeyCorp (KEY)

Putnam Investments LLC raised its holdings in KeyCorp (NYSE:KEY) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,880,827 shares of the financial services provider’s stock after purchasing an additional 40,687 shares during the quarter. Putnam Investments LLC owned about 0.47% of KeyCorp worth $97,079,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in KeyCorp by 33.5% in the third quarter. JPMorgan Chase & Co. now owns 36,176,502 shares of the financial services provider’s stock valued at $719,551,000 after purchasing an additional 9,086,291 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of KeyCorp by 14.9% in the third quarter. The Manufacturers Life Insurance Company now owns 16,968,275 shares of the financial services provider’s stock valued at $337,498,000 after acquiring an additional 2,198,538 shares in the last quarter. FMR LLC boosted its holdings in shares of KeyCorp by 33.5% in the third quarter. FMR LLC now owns 16,698,961 shares of the financial services provider’s stock valued at $332,143,000 after acquiring an additional 4,186,177 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of KeyCorp by 0.6% in the third quarter. Bessemer Group Inc. now owns 14,437,154 shares of the financial services provider’s stock valued at $287,156,000 after acquiring an additional 85,558 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of KeyCorp by 87.4% in the second quarter. Millennium Management LLC now owns 14,025,846 shares of the financial services provider’s stock valued at $274,065,000 after acquiring an additional 6,540,895 shares in the last quarter. Institutional investors own 79.59% of the company’s stock.

KEY stock opened at $15.13 on Friday. The stock has a market cap of $15.65 billion, a P/E ratio of 11.13, a P/E/G ratio of 0.56 and a beta of 1.01. KeyCorp has a 52 week low of $15.09 and a 52 week high of $22.40. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.64 billion. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities analysts predict that KeyCorp will post 1.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Tuesday, November 27th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Monday, November 26th. KeyCorp’s dividend payout ratio is currently 50.00%.

Several analysts have recently weighed in on the stock. ValuEngine downgraded shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research downgraded shares of KeyCorp from a “buy” rating to a “hold” rating in a report on Wednesday, August 22nd. Nomura lowered their target price on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, October 19th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $23.00 target price on shares of KeyCorp in a report on Monday, October 22nd. Finally, Citigroup lifted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, December 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.89.

In other KeyCorp news, insider Donald R. Kimble bought 5,000 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was bought at an average price of $18.55 per share, for a total transaction of $92,750.00. Following the completion of the transaction, the insider now owns 253,847 shares in the company, valued at approximately $4,708,861.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Beth E. Mooney bought 10,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were acquired at an average price of $18.26 per share, with a total value of $182,600.00. The disclosure for this purchase can be found here. 0.67% of the stock is currently owned by insiders.

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KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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